This acquisition was made by a joint venture between two Fundrise sponsored funds: the Fundrise Interval Fund, which invested roughly $9. 6%. Currently sitting at $24576. S. 7% as of today for the same time period with easier liquidity. Fundrise’s newest fund is larger, more liquid, and will be more volatile than the real estate crowdfunding platform’s earlier fund offerings. For example, the Income Fund at RealtyMogul pays a monthly 6% distribution. I have been an investor with Fundrise since March 2021 and already my returns are good. 42 in fees. Fundrise fees are 1% of assets under management and are split between a 0. Was content with how things were going, but decided to ask for my money. Basic – The Basic Portfolio allows users to choose their individual investing goals and open a self-directed IRA. Fund strategy. Fundrise Review #1: Real Estate Portfolio (56% of Investment) In total, we have $6,458. Since April of that year, the. Fundrise Real Estate Interval Fund. The Flagship Fund was opened for investment in January 2021 and was originally called the Fundrise Interval Fund. Fundrise is a crowdfunding platform for private real estate investing. I've been working with Fundrise for close to a decade and have spoken to the CEO, Ben Miller, at length. To liquidate/redeem all or a portion of your shares, you must submit a liquidation request. Returns Underperform Public REITs. It’s a totally different type of registration. Additional Information: An investor in the Fundrise Real Estate Interval Fund (the “Flagship Fund”) should consider the investment objectives. The Fundʼs investment objective is to seek to generate current income while secondarily seeking long-term capital appreciation with low to moderate volatility and low correlation to theBelow are the Fundrise 2021 returns of client accounts by investment plan objective. Despite its user-friendly mobile focus, Webull doesn't compromise on advanced tools, boasting comprehensive charting and. From 2017 to 2021, the average annual return was 10. Current Best Offer: Explore Fundrise properties (free) & start investing today (with just $10) In this Fundrise review, I explain how the platform works and break down. Originally published for investors on October 11, 2022. Strategy This investment follows a Fixed Income strategy Fundrise Real Estate Interval Fund 2 'JMFE QVSTVBOU UP 3VMF BA brief history of venture capital, including what makes some funds more successful than others, such as recognizable branding and access to the top companies in tech. In order to qualify for the Fundrise referral bonuses, your friends must join Fundrise via your unique referral link and deposit at least $10 into their new account. Acorns is an easy-to-use app that changes the way you invest. In addition, we had over $27 million in cash and cash equivalents as of 12/31/21. 29%. , on the Securities and Exchange Commission’s (SEC) EDGAR site. Fundrise also charges real estate companies a one-time 1% to 2% origination fee and a $5,000 closing cost. Of course, not all investors experienced a precise 9. The fees are 1% annually. I set up my account and invested an initial $1,000 into Fundrise back in 2016. 2. YTD, through August 2022: Total return of $499. . He will invest $1,000 each month for three months. To access the Funds Section 16 Information, click here. The Fundrise Innovation Fund seeks to achieve its investment objective by investing in a diversified portfolio of high-growth private technology companies. Fundrise Interval Fund purchased 146 rental homes April 21 in the Treeline Trails community in West Jacksonville near Maxville for $48. 1. Fundrise is a crowdfunded real estate platform that makes it easier for individual investors to invest in commercial real estate. 15% advisory fee) That said, there’s no clear winner when it comes to fees, so it’s a tie between Fundrise and Yieldstreet in the fees category. Dividends are paid quarterly and can either be reinvested or paid out to your bank account. There are five packages to choose from, which are more attractive to high-risk investors at $10,000 and $100,000, respectively. 31 votes, 16 comments. 55 are invested in the Income Real Estate Fund (30%) and $3,019. 81T and bought an estimated value of $127. With only a $10 investment minimum, Fundrise provides access everyone in private growth companies. This amounts to a collective annual gain of. Real-time returns of client accounts. (Public REITs were down ~5% in 2020, while most Fundrise accounts gained 5-8% . I chose their long-term core strategy because long-term growth is my priority. 50 advisory fee for every $1,000 you’ve invested with us. DEC 29, 2020 Editor’s note: The following letter was distributed by Fundrise Advisors to its clients on December 29, 2020, to inform them of. 1. In connection with the Merger, the Income Interval Fund issued to the shareholders of the Company common shares of the Income Interval Fund based on an agreed upon exchange ratio (“Exchange Ratio”). Jan 27, 2022 . Click the dots to view more detailed account information. If you own shares of the Fundrise eFund, you should receive a Schedule K-1. All in on interval fund! 100% of my fundrise investment. We would like to show you a description here but the site won’t allow us. We're sorry but Fundrise doesn't work properly without JavaScript enabled. This acquisition was made by a joint venture between two Fundrise sponsored funds, the Fundrise Interval Fund, which invested roughly $36 million, and the Balanced eREIT II, which invested roughly $4 million. 50. Since 2016, I've personally invested $960,000 in various private real estate funds, including $143,000 with Fundrise. In addition to eREITs, Fundrise offers an Interval Fund that combines the features of a real estate fund and a mutual fund. For those Fundrise investors who want to know what an Interval Fund is, the following are instructive and educational…The Fundrise Innovation Fund is currently available to Fundrise Pro members for direct investment or inclusion in a custom investment plan. Let me share my detailed Fundrise review so you can decide whether to invest with the platform or. Click on this, and you can add a one time payment directly into. View community ranking In the Top 5% of largest communities on Reddit. 2%. 9 million, and the Growth eREIT 2019, which invested roughly $6. End of ‘21 ended at $22543. Open Venture. The investment amounts include a budget for financing and. Origin Investments Pricing and Fees. Strategy. $161. 30%, which it reports to be lower than the industry standard of 1. Simplicity, single fund, no wasting time "strategizing," no holding period. Benefits of Fundrise. Our unique integrated technology platform allows us to operate with lower overall costs which means our investors are able to keep more of their returns. Opportunistic. housing market, I thought it would be good to see how. Commissions do not affect our. Recommended articles. Due diligence - 4. S. You'll get a 1099 for returns. Dear Fellow Shareholders,. ago. He selects Fund A (a mutual fund consisting of a number of blue chip stocks) and decides to invest $3,000 using dollar cost averaging. 72 and 83. Interval Fund: A Real Estate Fund with Mutual Fund Features. Streitwise’s closest competitor from an income generation perspective is Fundrise’s Income Real Estate Fund, which currently has a 6. Just came in this morning at nearly 15%. 05 net returns, of which Dividends at $96. federal income tax purposes under the Internal Revenue Code of 1986, as amended (the “Code”), commencing with its taxable year ending December 31, 2021. 2021: Dividends, $229; capital appreciation, $1,308. However, here is a quick recap of everything you should know about this major player in the real estate investment industry: Low fees (1%) Multiple types of investments (Interval Fund, eREITs, eFunds, and IRAs) To liquidate/redeem all or a portion of your shares, you must submit a liquidation request. The purchase was made by a joint venture between two Fundrise-sponsored funds, the Fundrise Interval Fund, which was backed by Goldman Sachs Group Inc (NYSE: GS) last year with a $300 million. The average historic returns of US RE syndications has been 6-8% depending on the strategy. The main product offered by Fundrise is REITs, or real estate investment trusts or REITs. This is low compared to similar platforms like Yieldstreet, which. A small amount, but exciting…The Fundrise Real Estate Interval Fund (the Fund) is an unlisted closed-end management investment company that is operated as an interval fund. 72 and 83. Time elapsed since initial investment Cumulative net return 1 year 2 years 3 years 4 years 5 years 6 years 7 years 8 years -25% 0% 25% 50% 75% 100% 125% 150% 175% 200%. So if you committed $100,000, you would be charged $1,250 in the first year of your investment. 31% to 16. the Fundrise Real Estate Interval Fund, LLC (the Fund). The eREITs, eFund, oFund and Flagship Fund are. Further, their new Flagship Interval Fund was up 28. On the surface, Vanguard charges no brokerage commissions and carries only a low investment advisory fee of 0. 76. The fund intends to offer quarterly liquidity (in the form of quarterly repurchase offers) with zero penalties or costs. Initial Investment. The Fundrise Innovation Fund is a brand new fund investing in mid-to-late-stage personal tech firms. It focuses on. To be clear, these changes will not impact the liquidity for the Fundrise Interval Fund, which is the flagship fund that powers the core of investor portfolios. 4%. Other important details include the following: The promotion is only available to U. I'm 10k into Long Term Growth and it shows me at 12. As a result, Fundrise estimates that investors will be looking at annual returns in the region of just 1. A diversified portfolio is more likely to have good gains, and they added this income real estate fund in 2021 to give real estate investors more options. Strategy. In comparison, stocks and public REITs had 6 quarters of negative returns during the same period. 86, with $20. 1% after not even a full year of operation. The Fundrise Flagship Interval Fund has an expense ratio of 1. Yieldstreet fees: 1-4%, depending on the investment + flat rate annual expense (which varies per investment) Fundrise fees: 1% of AUM (0. The platform's real estate. This acquisition was made by a joint venture between two Fundrise sponsored funds, the Fundrise Interval Fund, which invested roughly $1,230,500, and the Growth eREIT VII, which invested $136,700. 50% to 22. 2+ billion in assets under management, $7+ billion in total asset transactional value, and over 387,000. Fundrise. This acquisition was made by a joint venture between two Fundrise sponsored funds, the Fundrise Interval Fund, which invested roughly $2,467,000, and the Growth eREIT VII, which invested $274,000. What is the average return visit to Fundrise? Fundrise publishes its investors’ average dividends on the company’s global website. Unless $15 every three months is a substantial boost to your income, you'd be far better off trying to build a side hustle than investing in Fundrise to get extra income. Fundrise Interval Fund purchased 146 rental homes April 21 in the Treeline Trails community in West Jacksonville near Maxville for $48. Good question. It aimed to raise $1 billion in its first public offering, with no. The Fund operates as an “interval fund” pursuant to which it, subject to applicable law, will conduct quarterly repurchase offers for between 5% and 25% of the Fund’s outstanding common shares of limited liability company interests (“Shares” or “Common Shares”) at net asset value (“NAV”). 98 million. Fundrise Real Estate Interval Fund 2 'JMFE QVSTVBOU UP 3VMF B 'JMF /PFundrise revealed that their largest income-focused fund, the Income Interval Fund, has “paid an approximate 8% annualized distribution through the first six months of the year. Washington, D. That is to say that we think of the Fundrise Innovation Fund as an “and” not an “or” type of fund launch (as it. Joined: Sat Jan 04, 2014 7:28 pm. Income fund yields ~7% ATM, or ~$1 a day for me. Fundrise Interval Fund allows investors to buy a stake for as little as $10. In 2022, Fundrise launched its Innovation Fund (my review). THIS SUBSCRIPTION AGREEMENT (this “Agreement” or this “Subscription”) is made and entered into as of _____, by and between the undersigned (the “Subscriber,” “Investor,” or “you”) and Fundrise Real Estate Interval Fund, LLC, a Delaware limited liability company (the “Fund” or “we” or “us” or “our”), with reference to the facts set forth below. In addition to a low investment minimum, Fundrise doesn't charge a percentage of profits, only 1. Illiquid investment, investors should plan to invest for at least one year and more like three years or longer. Investing in Fundrise’s Interval Fund. The transaction referenced in this memo was a co-investment transaction made by the Fund, which invested roughly $916,000, and an affiliate of the Adviser, which invested roughly $611,000. 3%. Fundrise takes any potential security issues seriously, and encourages the responsible and timely reporting of unknown. We consider the Fundrise Interval Fund's structure, fees, leverage, acc. Fundrise Real Estate Interval Fund, LLC (the “Fund”) is a Delaware limited liability company and intends to elect to be taxed as a real estate investment trust (a “REIT”) for U. See our Fundrise review for more details on liquidity. Overall: 22. General disclosure. Since the Fundrise eREITS are sold directly to investors cutting out middle-men. NAV (net asset value) is typically updated daily for the interval funds (Flagship Real Estate Fund and the Income Real Estate Fund). My #1 Recommendation . A critical aspect of Fundrise’s model is its redemption program, meticulously crafted to balance the need for liquidity with the long-term nature of real estate investing. I turned $1,000 into $1,400 but imagine if I invested more money upfront. They are aiming to provide a balance between short-term and long-term investors in their platform. Further, their new Flagship Interval Fund was up 28. Accordingly, effective immediately, all references in the. You should receive a Form 1099-DIV for each eREIT or interval fund in your portfolio that generated aggregate distributions of at least $10 or more in the given tax year. No AccreditationA fintech platform to provide more flexible equity funding for the best technology companies and the teams who build them. Low Investment Minimum . 5 million portfolio of single-family rental asset-backed securities (ABS) across four issuers, for a weighted average gross yield of approximately 8. 67 and $4013 net returns, of which Dividends at $520. Aggressive Growth portfolio. Income: +17. 5. That equates to $8. If you compare the returns of Fundrise as reported by Financial Samuri of 12% per year is pretty close to the 11% return of Vanguard Real Estate (VNQ) over the same period of time (2016 to 2021). Currently displaying data for 532,967 accounts. Prospective Returns: 2-5% annual dividends, 0-22% annual appreciation. It can be deduced from these historic results that REIT outperformed Fundrise during peak years 2019 and 2021 while Fundrise outperformed REIT between 2018 and 2020. So in this episode, I'll give my honest re. Fundrise is America's largest direct-access alternative asset. However, here is a quick recap of everything you should. Other Annual Fees. 02%. How much it grows depends on your selections. 99% . Net asset value (NAV) 13. Trustpilot User Review “Fundrise is the most transparent and informative REIT based investment. C. My original goal was to build up to a $1M portfolio with Fundrise. persons” of the fund, as defined in the 1940 Act (the “Independent Directors”), initially approve, and annually review and consider the continuation of, the fund’s investment advisory agreement. Not sad with my Fundrise investment, I'm in it for the long term, but. In addition to these funds, Fundrise offers the core Flagship Fund, Income Fund, and Interval Fund. Fundrise Interval Fund. Shareholders are not required to accept these offers and sell their shares back to the fund. My intention is to diversify away from my expensive San Francisco real estate portfolio and earn more 100%-passive income. In other words, you’ll pay $2,000 for an investment of $100,000. As for fees, you'll pay an annual advisory fee of 0. Since April of that year, the. Fundrise Real Estate Interval Fund, LLC (“Flagship Fund”) is a Delaware limited liability company that is registered under the Investment Company Act of 1940 (“40 Act”), as amended, as a non-diversified, closed-end management investment company that is operated as an interval fund. As of 2022, Fundrise manages over $3. , registered the Fundrise Growth Tech Interval Fund (the "Fund") on 6/17/21, which will focus on investing in equity securities and derivatives of privately-held, late-stage growth companies across the broader technology sector, including firms in the IT, telecommunications, retail, media, electrical. It specializes in private residential real estate, but has investments in various types of commercial real estate as well. • 2 yr. Happy to answer further questions (as someone who was. Growth: 25. Our board of directors has undertaken a review of. For more details, please read our Fundrise review. Kindly study them carefully: Pros. Been in Fundrise a couple years, the average dividend is very low (3-4. <strong>We're sorry but Fundrise doesn't work properly without JavaScript enabled. 8 million in equity capital. Note: There is no guarantee of profit, and. 85% flat management fee and a 0. by packer16 » Sun Oct 23, 2022 12:39 am. Under the 1940 Act, each repurchase offer must consist of between 5% and 25% of a fund’s outstanding shares. Currently sitting at $24576. 85% and advisory fee of 0. Fundrise has some of the lowest minimums compared to other real estate investment platforms, with a plan that lets you invest as little as $500. The investment platform also boasts an easy-to-use interface and account structure. Net asset value $1. Further, their new Flagship Interval Fund was up 28. The platform combines state-of-the-art technology with in-house expertise to reduce. It has been made available as a supplemental resource for prospective investors in the Fund. Fundrise takes any potential security issues seriously, and. The Flagship Fund and Income Fund will offer quarterly liquidity (in the form of quarterly repurchase offers) and there is zero penalty or cost associated with liquidating these shares. S. Unlike traditional real estate investments, which require thousands of dollars in capital, Fundrise users can invest with as little as $10. Fundrise Review 2023 – 7 Years After Investing. Once you buy shares in one of Fundrise’s eREITs, you own a slice of all the apartment buildings,. As an investor, you can purchase shares in eREITs, eFunds, or the Interval Fund by buying a Fundrise portfolio. Disclosure: This page may contain affiliate links. Simply Put: Fundrise allows individual investors to invest in commercial real estate online through eREITS and eFunds. We consider the Fundrise Interval Fund's structure, fees, leverage, acc. Dividend ReinvestmentIn the last 20 years, insiders at Fundrise Real Estate Interval Fund, Llc have sold an estimated value of $1. Not a bad idea at all. There is also an Interval Fund, which offers higher diversification and liquidity compared to its other funds. The information contained on the Platform neither constitutes an offer for nor a solicitation of interest in any securities offering; however, if an indication of interest is provided. Yes, Fundrise does pay dividends. Fundrise Features. Strategy. Fundrise has a minimum $10 investment for their general exposure fund versus Concreit’s $1, but they have higher average annual returns of 9% versus 5. Updated daily. Through the first half of 2022 we’ve now produced our strongest ever relative performance, beating the S&P 500 on an absolute basis by nearly 25%. The return on that is indexed to inflation, which is in that range. The Growth eREIT VIII, which invested $2 million and the Fundrise Interval Fund, which invested roughly $17. If you plotted long term graph of SPY vs Real estate, SPY comes ahead. Learn more about Fundrise in my Fundrise Review! 7. Recently came across Roots which is a online eREIT that currently owns about 50 single family homes near Atlanta GA. That said, here are a few items to consider: Timing: We typically review liquidation requests for the majority of our funds on a quarterly basis, and at the end of the month following a 60-day waiting period for the Fundrise eFund. You can learn more about Fundrise in our review of the FundRise Interval Fund. Now the Fundrise Innovation fund is open to everyone who is interested in investing in private growth companies. Interval Fund answers from Fundrise. While the current Interval fund has great returns so far, it is a low yielder. Here is my Opportunistic Credit Fund review for those considering to invest. 17% returns for publicly traded. 4. 05 net returns, of which Dividends at $96. 47%. The Fund’s investment objective is to seek to generate current income while secondarily seeking long-term capital appreciation with low to moderate volatility and low correlation to the broader. If you’re looking for a more readily available option, Fundrise offers investors the Interval Fund feature, which allows for more direct access to the money you’ve invested through quarterly repurchase. However, it's crucial to note that past performance is not a guarantee of future results. Fund category. 2022 YTD returns (as of July, 2022): 6. The Innovation Fund will take several years to get rolling. There is absolutely no way this kind of appreciation can go on in the long term, and we may even get a snapback of slight negative appreciation at some point in the coming years. (Same goes for the FundRise IPO. Monachil Capital Partners, LP registered the Monachil Credit Income Fund (the "Fund") on 6/21/21, which will focus on providing investors with current income and attractive risk-adjusted returns. Bsexpress1. From the the SEC filing:. The interval fund sector set more growth records in 2022. 15% and an annual asset management fee of 0. Yes, you can do that, though Fundrise isn't really meant for that short term kind of thing. 3 billion, and manages. . 2020: 6. The app stands out by rounding up your everyday. Fundrise has a 0. All asset types excl. This means that over a 12-month period, you will pay a $1. At the top of the page, under the big "back to dashboard" you'll see a clickable link that says "or make a direct investment". 62%: Growth eREIT II: $111,589,270: Sep 2018: 4. You can find details about the fund below: The majority of potential returns are expected to be generated in the form of long-term appreciation. The transaction referenced in this memo was a co-investment transaction made by the Fund, which invested roughly $1,230,500, and an affiliate of the Adviser, which invested roughly $136,700. No idea about Reality Shares. Value Add. Since 2016, I've personally invested $960,000 in various private real estate funds, including $143,000 with Fundrise. com. e. Fund’s Prospectus and Statement of Information (“SAI”), each dated May 1, 2022,. 28 invested in Fundrise’s real estate portfolios . The transaction referenced in this memo was a co-investment transaction made by the Fund, which invested roughly $21,690,000, and an affiliate of the Adviser, which invested roughly $2,410,000. 9%. Unlike traditional real estate investments, which require thousands of dollars in capital,. Investors can opt into the Fundrise Interval Fund for better ongoing access to invested. With the starter portfolio, you can invest in eREITs for a starting investment of just $10. This acquisition was made by a joint venture between two Fundrise sponsored funds, the Fundrise Interval Fund, which invested roughly $20,856,000, and the Growth eREIT VII, which invested $2,317,000. The average historic returns of US RE syndications has been 6-8% depending on the strategy. Fundrise Real Estate Interval Fund, LLC, et al. Balanced: 23. Management fee: 1. 50 for every $1,000 invested. Fundrise Real Estate Interval Fund, LLC (“Flagship Fund”) is a Delaware limited liability company that is registered under the Investment Company Act of 1940 (“40 Act”), as amended, as a non-diversified, closed-end management investment company that is operated as an interval fund. The following chart shows the number of new interval. In other words, Fundrise owns properties directly, while the Vanguard Real Estate ETF owns companies that buy real estate. As of April 1, 2022, these funds were merged into the Fundrise Income Real Estate Fund, an SEC registered interval fund. Neither Fundrise nor any of its affiliates provide tax advice and do not represent in any manner that the outcomes described herein will result in any particular tax consequence. The Cascade, the Great Deleveraging’s next chapter — Episode 20 of Onward, a Fundrise podcast The recent failures of regional banks are almost certainly direct evidence of “The Great Deleveraging” thesis, introduced on Onward this past November. The Target Companies will be merged with and into Fundrise Income Real Estate Fund, LLC (the “Acquiring Fund”), a newly organized Delaware limited liability company that is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as a non-diversified, closed-end management investment company that is operated as an. Asset management fee of 0. </strong><img height="1" width="1" style="display:none. THIS CUSTODY AGREEMENT (this “Agreement”) is dated as of [ ] by and between FUNDRISE GROWTH TECH FUND, LLC, a limited liability company organized under the laws of the State of Delaware, having its principal place of business at 11 Dupont Circle, NW, 9th Floor, Washington, DC, 20036 (the “Fund”), and MILLENNIUM TRUST COMPANY,. This is a pretty even split among the two portfolios. 4. There are a wide variety of niche credit strategies available in the interval. The minimum investment to start with Fundrise is $10. If you sell shares within five years of buying, you pay a 1% penalty on Fundrise eREIT shares (but not Interval Fund shares). The Vanguard Real Estate Index Fund ETF trades publicly under the ticker symbol VNQ. 02 and Appreciation at $$3513. 15% annually. 15% annual advisory fee for managing investor's accounts. The purchase was made by a joint venture between two Fundrise-sponsored funds, the Fundrise Interval Fund, which was backed by Goldman Sachs Group Inc GS last year with a $300 million credit. 85% of assets. Our Flagship Real Estate Fund is designed to deliver long-term appreciation from a diversified portfolio of our most favored real estate investment strategies: build-for-rent housing communities and multifamily and industrial assets in the Sunbelt. 85% management fee + 0. If you own shares of the Fundrise eFund, you should expect to receive a Schedule K-1 tax package. The Fund operates as an “interval fund” pursuant to which it, subject to applicable law, will conduct quarterly repurchase offers for between 5% and 25% of the Fund’s outstanding common shares of limited liability company interests (“Shares” or “Common Shares”) at net asset value (“NAV”). Originally the minimum investment was $500, but Fundrise relaunched it in 2021 to lower the minimum investment. Fund category. 3% from October 1 2022 - October 1, 2023 and has returned 40% from July 1, 2021- October 1, 2023. Invest in world-class private market investments like real estate, venture capital, and private credit. The fee structure can vary depending on the fund you invest in. Been in Fundrise a couple years, the average dividend is very low (3-4. But for now, it's pretty amazing we could. And right now, Fundrise provides new users with $10 in bonus shares for the Fundrise Real Estate Interval Fund after you invest your first $10. Minimum investment: Investors can get started with Fundrise for as low as $10. This followed five new registrations in the first quarter. The interval fund NAV changes tomorrow are at Midnight EST. I'm passionate about Fundrise (FR) & The Joseph Carlson Show (JC). 85% flat management fee and a 0. The fees are 1% annually. Below are the Fundrise 2021 returns of client accounts by investment plan objective. This means we earn a small commission (at no additional cost to you) if you purchase a product through our links. All in all, the Fundrise Innovation Fund makes investing in private technology companies possible for retail investors. Fundrise also comes with a lot of features that make it a unique crowdfunding platform. 44 advisory fee paid to Fundrise. (There is also an East Coast eReit investment, but I haven't found that share price. Fundrise Fees and Costs. Invest online in commercial real estate via eREITs and eFunds. For a complete list of all 35 interval funds pending registration, click here. Here are my returns as of April 2023: 2019: 6. Where Fundrise shines.